Monday, August 23, 2010

Back to School with Smart Technologies

SMART Technologies Inc., the global leader in interactive whiteboards, develops easy-to-use integrated products and services that improve the way the world works and learns.

The company introduced the first interactive electronic whiteboard in 1991 and says that it remains the industry leader. It has shipped more than 1.6 million of its SMART Board interactive whiteboards to over 100 countries worldwide since the product was introduced.

The company says its products “combine the simplicity of a whiteboard and the power of a computer. By touching the surface of a SMART Board interactive whiteboard, the user can control computer applications, access the Internet, write in digital ink and save and share work.”

Smart Technologies Inc., raised $660 million in the second-biggest initial public offering in the U.S. this year.

The Calgary-based company priced 38.8 million Class A shares at $17 each after offering 35.3 million for $16 to $18, according to a statement and a Securities and Exchange Commission filing. Smart Technologies will receive 23 percent of proceeds. Selling shareholders including Intel Corp. and Apax Partners will get the rest, reaping a more than sixfold gain on average, the statement and filing show.

Smart Technologies’ initial sale, the biggest by a Canadian technology company in at least a decade opened today at $12.52. Nancy Knowlton, President and CEO of SMART. "We benefited from healthy year-over-year demand across all our geographic regions, particularly in North America. Our hardware and software solution continues to resonate with teachers and administrators, as they recognize the value of having the integrated SMART solution in the classroom." With awareness of the product building the timing may be perfect as we enter into the "back to school" period. Having opened at $18.00 and reached a low of $11.39 it's no doubt a good time to BUY SMART.